STI rebounds after two days of big losses
Banks which were among the worst hit during the Aug 11-12 slide lead STI higher, adding some 20 points to the index
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
THE Straits Times Index (STI) on Thursday closed at 3,091.78, regaining 30.29 of the 136 points it had lost during the selloff on Tuesday and Wednesday.
The broad market, excluding warrants, recorded 256 rises versus 190 falls, so the index's bounce did not reflect widespread strength, while volume amounted to 1.44 billion units worth S$1.4 billion, of which S$1.03 billion or 74 per cent was done in the 30 STI components.
Stock markets around the world have been hit this week by a shock move by the Chinese authorities to devalue the yuan, either because it will help boost exports and revive a slowing economy or because with a market-determined exchange rate the yuan would be given the Special Drawing Rights status by the International Monetary Fund, or both.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
